Southwark is to become the first inner London borough to feature a designated Heritage Action Zone (HAZ), after Heritage England awarded the status to Walworth.
Announced in December, the five-year scheme aims to restore Walworth’s “historic character”, potentially create jobs and boost enjoyment of the area, with Southwark Council leading the charge.
By exploring the stories and history associated with Walworth, the council will work with members of the community, and educational and business partners to deliver local improvements.
Heritage minister John Glen commended the announcement: "Our heritage not only tells the story of our past, it creates great places to live, work and visit.
"The Heritage Action Zone scheme will make the most out of Walworth’s historic environment to kick-start regeneration, and boost investment."
A detailed delivery plan is being planned for spring 2018 onwards, outlining any funding granted by Historic England.
Southwark Council has bought Courage Yard on Shad Thames, near Tower Bridge, which it will redevelop to generate income for frontline services.